It is no surprise that more healthcare costs are being paid by employees than in the past. It is interesting to note that these costs take the form of both fixed costs (i.e. premium contributions) and marginal costs (i.e. deductibles). Employers have had to shift more costs to their employees to keep their overall healthcare costs sustainable. (See our blog post, “Perfect Storm: Employee Health Insurance Premiums and Deductibles Continue to Rise.”) As is often said, health insurance is expensive because healthcare is expensive.
As a result, employees see their benefits as less valuable because of the additional costs they must shoulder. Compass has seen evidence of this reaction from our members, who may be frustrated about their ”new” plans, which are often a consumer-directed health plan (CDHP) or high-deductible health plan (HDHP).Employees may see their benefits as less valuable because of the additional costs they must shoulder. Click To Tweet
However, this frustration and poor benefits satisfaction does not need to be the consequence. Compass has many clients that have effectively navigated this transition with two important approaches:
- Expectation setting through robust communication
- Ongoing support
Active open enrollments with required education sessions—such as the ones that Compass client Nebraska Furniture Mart conducts—effectively prepare employees for changes and explain WHY these changes need to be made. That second piece of explaining the WHY is crucial.
Ongoing support for employees through tools and services such as Compass Health Pro® consultants give employees the support they need throughout the year to navigate their benefits and the complex world of doctors, hospitals, tests and procedures.
Health events are often very stressful and foreign to employees. Giving them an expert resource like Compass to guide them through their experience, not only saves them money and frustration, but more importantly, can improve the quality of their care and the quality of their overall experience.
- Perfect Storm: Employee Health Insurance Premiums and Deductibles Continue to Rise
- How Nebraska Furniture Mart Increased HDHP Enrollment
- Mistakes to Avoid When Implementing a Consumer-Directed Health Plan
- Case Study: How EnLink Midstream Successfully Transitioned to a Consumer-Directed Health Plan (CDHP)